Dec 5, 2013 4:00am EST
. >> can you explain to me, paul, why does it in and of itself a higher wage mean greater efficiency. in and of itself, why does one equal the other? >> so the well recognized efficiency gaines from higher wages are reduced employee turnover recruitment and retention costs. it's actually surprisingly expensive to replace even a $9 an hour worker. it can cost $2,000, $3,000 a higher. if you are turning to your workforce with it being replaced each year, those are major costs. the high road chains that pay higher wages have much lower costs and they also find -- see that they enjoy the higher curb -- payroll dollar sales and profitability than companies like mcdonald's and walmart. >> paul, thanks for that. a quick reaction from you. look, we know that corporates have taken the greatest share of income out of the economy, right, at the expense of workers. but how much can we take on wages before we get the inflation problem that we've been worrying about? >> well, and to me, that's what i hear sort of the macro story from that around the individual issues is that if you start to get th
Dec 4, 2013 4:00pm PST
to california, an autopsy showing actor paul walker was killed by both the impact and the fire in saturday's car crash. the fast and furious star died when their porsche hit a light pole and a tree. confirming walker was the passenger in the car. also today, universal pictures shutting down production on fast and furious 7, at least temporarily. and now to the deadly cold snap gripping the middle of the country. at least six deaths are blamed on the wintry storm it is pushing through the rockies and the midwest. the storm bringing bitter temperatures and making driving treacherous. cold weather threatening crops as far south as california. >>> now to arizona, convicted boyfriend killer jodi arias losing round in court re-sentencing phase retrial. jurors will not be required to turn over twitter user names in the court. they wanted social media accounts monitored for communications about the case. that's tonight's speed read. and ready for this? you might want to sit down. the united states hitting a low, a 40-year low according to the latest pew research center poll. a 3% of americans say the u.
Dec 5, 2013 11:00am PST
let you go, universal pictures paying tribute to the late actor paul walker and his on-screen legacy. he was part of one of, really, the studio's biggest franchises they had ever seen. >> people in this room right here, right now, salute. >> some of paul walker's "fast and furious" moments released online in the wake of his death. production for the seventh "fast and furious" movie has been officially halted. >>> i'm brooke baldwin. thank you so much as always for being with me today. see you back here same time tomorrow. "the lead" with jake tapper starts now. >>> happy repeal day! take it easy, obama care fans and foes. i'm talking about repealing prohibition. it ended 80 years ago this hour. cheers! i'm jake tapper. this is "the lead." >>> the world lead. it's the city where terrorists attacked and killed a u.s. ambassador and three other americans more than a year ago. today, another u.s. citizen has been slain in benghazi, libya. who was ronald thomas smith ii? can his family expect justice? >>> the national lead. with his son's suicide, this has been the worst year of pastor ri
Dec 5, 2013 9:00am EST
with that is this has been a two-person negotiation. this has been patti murray and paul ryan. our democratic -- haven't been part of the discussion. so in terms of getting a sense of whether there's a deal brewing that can pass both houses, we don't have enough information at this point to know. all we know is they are moving closer and closer together. >> congressman, can you explain to us all exactly what is happening here and what is at stake? we've got $90 billion of automatic spending cuts that kick in next year and to do the deal over two years, they need to agree 180, maybe 200 billion of spending cuts to negate that. the information -- and you will know this better than i -- is that they are going for a much smaller deal, maybe 40 or 50 billion. congressman, if they do a 40 or 50 dollar bill, does that neutralize what is at stake? >> that is what's at stake and that's what i know patti murray and paul ryan are trying to do is basically negate the -- across the board cuts with the see zest ragz, which will be deaf state to go our military next year and it's already been devastating to many of